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Iran Oil Bourse Not Yet

Iran’s capital market is not prepared for the launch of an oil bourse, as it needs to be connected with global markets and supported by the international banking system, a member of the Securities and Exchange High Council said on Tuesday.
“Conditions are not favorable for launching an oil bourse in Iran because such a bourse must have international infrastructure, while the Iranian capital market is linked neither to foreign markets nor to international banks,” Hossein Abdoh-Tabrizi was also quoted as saying by ILNA.
The official noted that the reason behind planning a domestic bourse for selling crude oil is the country’s current financial constraints, although taking a leap in the dark can give rise to irreparable consequences. “I believe oil bourse should be established in one of Iran’s free trade zones, which allows for more liberal regulations in a proper economic state,” he said.

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